Vehicle Pressure Sensors Market Business Opportunities and Growth Challenges Report
The vehicle pressure sensor market is primarily driven by the growing disposable income of millennial population and is set to experience a further boost during future prospects.
(firmenpresse) - The global vehicle pressure sensors market is estimated to grow at an exponential CAGR by the year 2023. In the modern-day automotive industry, temperature sensing and climate control are among the vital functions in automotive electronics. They can instantly determine the intensity of warmth and the direction of incoming solar rays.
“An increase in vehicular population has raised environmental concerns, especially across the fast-growing countries. This has impelled the government to enforce strict vehicle safety and emission norms to regularize the adverse effect of air pollution. This has propelled adoption of the EGR system, airbag and ABS among automobile manufacturers, thereby, driving a huge demand for pressure sensors over the forecast year.”
The vehicle pressure sensor market is primarily driven by the growing disposable income of millennial population and is set to experience a further boost during future prospects.
The vehicle pressure sensors market has been segmented into alternative fuel vehicles, light commercial vehicles, and heavy commercial vehicles based on its type. By type, the market can be bifurcated into Body Electronics and power train. Adoption of advanced utilities and luxury automotive continue to propel the sales for light weight vehicles over the commercial segment.
Geographical segmentation has presented a detailed analysis of vehicle pressure sensor market growth prospects across the regions of North America, the Asia Pacific, Europe, the Middle East, and Africa, and Latin America. Asia-Pacific has been attributed to emerging as the fastest growing region during the forecast year. The Indian and Chinese government policies are keen on implementing rapid vehicle electrification, vehicle safety, and export-oriented standards in order to grab the international attention, which shall be fueling their foreign trades in the upcoming years.
The competitive landscape showcases the profiles and business strategies of the major players, along with their recent developments. The major manufacturers covered in the global market include Robert Bosch, Denso, Infineon technologies, Delphi, Sensata Technologies, Texas Instruments, Analog Devices, Continental AG, Melexis, and NXP Semiconductors among others.
Players are entering into business partnerships with fellow contestants and are significantly investing in innovation strategies, which is estimated to drive the cellular vendors to reach new growth markets.
Fuel economy standards, such as nitrogen oxide, carbon monoxide, and carbon dioxide emission limits, are becoming stringent globally, thus, there are many limitations on acceptable emissions level. This aspect has obligated manufacturers to develop fuel-efficient EMS system, which can effectively comply with emanation standards. This factor, in turn, is projected to drive the demand for EMS in the pressure sensors industry.
EPCOS sensors stand out for its long-life stability and excellent measuring accuracy. Its advanced technologies allow large-scale and cost-efficient production of dependable sensors. They offer sensor bodies over molded with plastic or specific insulating materials for ensuring its performance efficiency even in adverse environmental conditions. They are available in a variety of shapes, along with a wide variety of connector and cable geometries.
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Datum: 15.10.2019 - 09:25 Uhr
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Date of sending: 15.10.2019
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